Senores Pharmaceuticals Expands US Market Reach with Major Acquisition

Senores Pharmaceuticals aims to enhance its US market presence by acquiring 14 Abbreviated New Drug Applications from Dr Reddy's Laboratories. This strategic move, supported by IPO funds, targets a $421 million opportunity and involves a mix of controlled substances and general products for diversified distribution.

Gujarat-based Senores Pharmaceuticals has announced a strategic acquisition of 14 Abbreviated New Drug Applications (ANDAs) from Dr Reddy's Laboratories, without disclosing the financial terms of the deal.

The acquisition, conducted through its US subsidiary, includes 13 ANDAs already approved by the USFDA, with one pending approval, as per a company statement.

According to IQVIA, the ANDAs present an addressable market opportunity of approximately USD 421 million in the US. Senores plans to fund this acquisition with initial public offering proceeds, aligning with its IPO objectives outlined in the Red Herring Prospectus.

Managing Director Swapnil Shah highlighted that the acquired products span multiple therapeutic areas and include both controlled substances and general products. These are poised for distribution across government sectors, retail, and specialty clinics.

The expanded portfolio is expected to significantly boost Senores' product offerings in not only the US but other regulated and semi-regulated markets as well, enhancing the company's market footprint, said Shah.

(With inputs from agencies.)